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Wills, Trusts, & Estate Planning Finance & Banking

Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:

How to Avoid Costly Beneficiary Designation Litigation – Helpful Hints for All Benefit Plans

by Foley & Lardner LLP on

When administering an employee benefits plan, it is critically important to provide clear and specific instructions as to how a participant can designate a beneficiary. A recent federal district court opinion in Florida...more

The flexibility of stretch IRAs: Learn how your IRA can benefit your spouse and other beneficiaries

IRAs are meant to be used for retirement saving. However, if a person doesn’t need to tap into an IRA for income during retirement, he or she can preserve the assets as part of his or her estate, above and beyond what was...more

What’s the best option for a pension plan payout?

Typically, estate planning and retirement planning go hand in hand. Why? The more wealth a person is able to set aside for retirement — and the better job he or she does managing retirement funds — the more that will be left...more

Recent Cases of Interest to Fiduciaries

by McGuireWoods LLP on

In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: -...more

Residual liability in the trust context of excluded fiduciaries

by Charles E. Rounds, Jr. on

Some states by statute have introduced into their trust jurisprudence the concept of the excluded fiduciary: In the case of a trust the terms of which allocate fiduciary functions between the trustee and, say, a trust...more

Insight on Estate Planning - April/May 2017

Protect multiple generations with a dynasty trust - Dynasty trusts have nothing to do with the popular soap opera from the 1980s, but everything to do with leaving a lasting legacy. Although this type of trust is often...more

Duty to Diversify – Texas Bankers Association’s Real Estate, Oil and Gas Conference

by Winstead PC on

David F. Johnson, lead writer for the Texas Fiduciary Litigator blog, presented “Asset Concentrations and the Duty to Diversify” to the Texas Bankers Association’s Real Estate, Oil and Gas Conference, in San Antonio on March...more

Asset Concentrations And The Duty To Diversify

by Winstead PC on

David F. Johnson, lead writer for the Texas Fiduciary Litigator blog, presented “Asset Concentrations and the Duty to Diversify” to the Texas Bankers Association’s Real Estate, Oil and Gas Conference, in San Antonio on March...more

Reporting Foreign Income: Four Common Misconceptions

by Moskowitz LLP on

The U.S. government has stringent reporting requirements when it comes to foreign assets and income, but many people are still not coming into compliance based on some mistaken beliefs. Here are four common misconceptions...more

A Guide for Challenging a Joint Account Arrangement in Michigan

by Clark Hill PLC on

Joint bank account arrangements are as useful as they are common, providing a simple means for transferring an individual's assets to others - either during his/her life or post death by operation of a survivorship...more

Alzheimer’s Legal and Financial Planning Tips

by Fraser Trebilcock on

If you or someone you love has Alzheimer’s disease or another dementia, it is important to put legal and financial plans in place as soon as possible....more

Chris Lazarini Provides Insight on Compelling Non-Signatories to Arbitrate Disputes

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini provided insight on a case in which a widow and one-time named beneficiary of her husband's IRA account acquired the account assets after her husband's death, although she was not...more

Would equity deem an enforceable irrevocable power of attorney (IPA) to be a trust rather than an agency?

by Charles E. Rounds, Jr. on

At law and in equity the classic agency is terminable at the will of either the principal or the agent, and in any event upon the death or mental incapacity of either. The durable power of attorney is one statutory partial...more

Client Alert: Captive Insurance on 2017 IRS “Dirty Dozen” Listing

For the third consecutive year, “abusive micro-captives” make an appearance on the IRS’ annual “Dirty Dozen” list of tax scams in 2017. Last year’s information release on abusive tax shelters, found in IR-2016-025, included...more

When the Wall of Secrecy Collapses

by Foodman CPAs & Advisors on

Foreign Accounts, Shell Companies, Blind Trusts, Asset Protection Trusts, Offshore Trusts, Global Citizenship and US Residency are just a few of the Terms highlighted in the mega divorce proceedings of a Palm Beach County...more

Wealth Management Update - February 2017

by Proskauer Rose LLP on

February Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The February § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Emerging Trends Newsletter - Q4

by Stinson Leonard Street on

The Volcker Rule Under the Trump Administration - The so-called Volcker Rule—named after Paul Volcker, a former chairman of the Federal Reserve Board—was part of the Dodd-Frank Wall Street Reform and Consumer Protection...more

Money, Dirt and Steel: Year End 2016

by Williams Mullen on

COPIES AND AFFIDAVITS ADMISSIBLE IN POWER OF SALE FORECLOSURE PROCEEDINGS - In the Matter of Foreclosure by Rogers Townsend & Thomas, __ N.C. App. ___, COA15-581 (April 15, 2016), was a Non-judicial foreclosure action...more

NAIC Report: 2016 Fall National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2016 Fall National Meeting December 10-13. Despite the glitzy setting at the Fontainebleau Hotel in Miami Beach, there were no splashy new developments—save...more

Wealth Management Update - December 2016

by Proskauer Rose LLP on

December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

For high net worth individuals - What can you do before the end of the year to protect against potential changes in the tax laws? ...

by Dickinson Wright on

President-elect Trump has posted his tax proposals on his website. Although we are unable to say with certainty whether any of these proposals will be enacted, we address three of his proposals and our suggestions. Any of...more

Update On Proposed Tax Regulations Affecting Availability of Valuation Discounts to Family Business Owners

In September, we posted a blog discussing the Treasury Department’s issuance of proposed regulations under Section 2704 of the Internal Revenue Code (sometimes referred to as the 2704 proposed regulations) that could...more

2016 Year-End Estate Planning Advisory

by Katten Muchin Rosenman LLP on

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

Revised Uniform Unclaimed Property Act Finalized for State Enactment—Legislative Drafting Notes and Interpretative Comments Added ...

by McDermott Will & Emery on

The fourth iteration of a uniform unclaimed property act—entitled the Revised Uniform Unclaimed Property Act (RUUPA or Act)—has been finalized by the Uniform Law Commission for state enactment. The new Prefatory Note,...more

States Pass "Digital Assets" Legislation

by White & Case LLP on

Financial transactions are increasingly occurring online. Many of us pay bills electronically, or have them automatically charged to credit cards or debited from checking accounts. Many of us also receive asset and credit...more

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